NYU Lan­gone re­bounds from Su­per­storm Sandy

Modern Healthcare - - REGIONAL NEWS - —Bob Her­man

NYU Lan­gone Med­i­cal Cen­ter is well on the mend from the dam­age Su­per­storm Sandy wreaked on its New York City fa­cil­i­ties more than a year and a half ago, its lat­est fi­nan­cials demon­strate.

Rev­enue, in­come and vol­umes surged for NYU Lan­gone in the ninemonth pe­riod ended May 31. The aca­demic med­i­cal cen­ter was re­duced to lim­ited op­er­a­tions for sev­eral months last year be­cause of the storm’s dam­age to its fa­cil­i­ties in Oc­to­ber 2012.

“As the ‘Ghost­busters’ line goes: ‘We’re back,’” NYU Lan­gone Chief Fi­nan­cial Of­fi­cer Michael Burke said.

The 791-bed med­i­cal cen­ter opened its new full-ser­vice emer­gency de­part­ment in April; dam­ages from Sandy forced the orig­i­nal ED to close 18 months ear­lier. As of May 31, the new ED has had more than 6,700 vis­its, with 1 in 5 ED pa­tients ad­mit­ted to NYU Lan­gone’s Tisch Hos­pi­tal. Although the med­i­cal cen­ter had sev­eral off-site ur­gent-care cen­ters dur­ing the tran­si­tion pe­riod, they couldn’t com­pen­sate for the vol­ume of a fullser­vice ED, Burke said.

In the nine months of fis­cal 2014, which be­gan Sept. 1, NYU Lan­gone’s op­er­at­ing sur­plus al­most tripled to $124.3 mil­lion. The or­ga­ni­za­tion’s to­tal sur­plus was $107.2 mil­lion, com­pared with a to­tal loss of $24.7 mil­lion in the first nine months of fis­cal 2013. Rev­enue soared 15% to $1.67 bil­lion.

NYU Lan­gone Med­i­cal Cen­ter opened its new ED in April for the first time since Su­per­storm Sandy.

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